Genesis Energy, L.P. (GEL) is an energy MLP engaged mostly in fee-based midstream and downstream services. Unlike most MLPs, Genesis Energy does not have a general partner and therefore does not pay any IDRs. The company has limited commodity price exposure due to the majority of its capacity being under long-term, fixed-margin contracts. Genesis Energy is heavily involved with Gulf Coast refineries, providing intermediate supply and logistics products and services. As a result of the recent refining boom, Genesis Energy has seen its margins surge. YTD, Genesis Energy has been an outperformer with its shares up over 40%. Genesis Energy offers a $0.4975 per share quarterly distribution and yields about 4.00%.
Genesis Energy's assets...
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